The southern industrial hub of Binh Duong reported 3,889 new firms in the January-September period, which pumped a total of 34.8 trillion VND (1.53 billion USD) in registered capital into the local economy (Illustrative photo: VNA)
 
Binh Duong (VNA) – The southern industrial hub of Binh Duong reported 3,889 new firms in the January-September period, which pumped a total of 34.8 trillion VND (1.53 billion USD) in registered capital into the local economy.

The figures represented increases of 43.7 percent in the number of firms and 69.3 percent in capital amount on a yearly basis.

Among the new firms, 3,753 are domestic firms and 136 are foreign-invested.

Sectors with the highest number of new firms are metal product makers with 214 enterprise, mechanical engineering and galvanizing also with 214 enterprises, and wood and wood products with 103 enterprises.

The garment and textile industry saw the entrance of 73 new firms, while chemicals and rubber-plastic industries each had 44.

In the same period, 326 enterprises suspended operation, up 5 percent from last year, and 207 dissolved, a rise of 33.5 percent. Most of those enterprises are of small and medium sizes.

As of present, Binh Duong is home to more than 29,000 enterprises, with total registered capital estimated at over 200 trillion VND (8.8 billion USD). The province has set the target of have 23,000 more firms during the five-year period from 2016 to 2020.

Also in the first nine months of the year, Binh Duong attracted 148 new projects valued at a total of 1.165 billion USD.

Another 87 projects added capital of 765 million USD, bringing the total FDI inflow in the period to nearly 1.97 billion USD, a jump of 27 percent compared with the same period last year.

 Binh Duong has a total of nearly 3,000 FDI projects, worth over 27.7 billion USD from 60 countries and territories.-VNA